FRANKLIN CORPORATION

Balance Sheet

As of December $31,$ Year $4$

Required

a$.$ Compute the balance in trade accounts payable as of December $31,$ Year $4.$

b$.$ Compute the balance in retained earnings as of December $31,$ Year $4.$

c$.$ Compute the balance in the inventory account as of December $31,$ Year $4.($Assume that the level of inventory did not change from

last year.$)$

Note: For all requirements, negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round

your answers to the nearest whole dollar amount.

a$.$ Accounts payable

b$.$ Retained earnings

c$.$ Inventory